Creative Itch

Enticing Pricing - Strategies for Getting Paid

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Make 2023 the year you really get confident with your pricing and take time to consider new ways to make money.

How are you currently charging?

  • Hourly - hourly can be great when the work is ambiguous and ongoing
  • Project - project pricing gives you the freedom to have known pricing for specific types of work, you can make packages and bundles of multiple services
  • Service - service pricing makes it clear you are charging different rates or blocks for different types of creative services and possibly a flexible and better way to relationship build with clients

    • How should you increase pricing?

    • You can set a date, like the beginning of the new year where the increase will impact all clients. Be sure to give existing clients ample notice so they do not feel surprised with the increases
    • You can set a date and keep existing customers at the previous rate indefinitely while all new clients receive the new increased pricing
    • You can set a date and give existing clients a specific number of months at the previous pricing before it increases to the new pricing for all other clients. Again, be sure to make the date of the increase clear while reminding them they can still leverage to the previous pricing for a while longer.

      • When are you getting paid?

      • End of Project - This is frustrating and usually feels like the client is putting off paying as long as possible. This can be dangerous when the work is ongoing and the end isn't clear.
      • Milestones - When there is a natural meeting or deliverable you exchange when the client, having a paywall for receiving the item is a good way to ensure you get paid for the work you've done so far.
      • Paid in Advance - When the client is willing to pay 100% of the costs up front consider having a discount or some small extras baked into your relationship. Getting paid in advance is key for being about to execute on projects without the financial stress and uncertainty. Even getting paid 50% up front can be helpful.

        • Tier Pricing for Different Client Types

        When you want to fill gaps between large project work, consider targeting smaller businesses and charge a rate that will keep you paid but entice them to working with you. By filling small gaps with smaller projects you can gain an entire new set of clients to work into your larger and more complex work. This also gives you variety and could be something really great to consider.

        Inconvenient Pricing

        By raising your rates, you may worry you'll lose clients. Perhaps you will, but typically those will be the irritating clients that want 24/7 access to you and expect unrealistic timelines while being unwilling to pay. Raise your prices and keep your sanity. 

        Offer Add-ons

        Consider items you can add to your existing projects or services. Maybe you include a few additional hours to help troubleshoot or make small adjustments (these additional hours should be included in your project or service pricing but do not have to be called out separately). Something else could be offering a discount on a future project. Keep an open mind and be willing to try something to see if it is effective in repeat client work, word of mouth advertising or referrals.

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        Creative ItchBy Jef Lippiatt